Quality Management and Liability Recording Market Returns Strong Performance
November 13, 2008
By Susan J. Campbell, TMCnet Contributing Editor
DMG Consulting LLC, a provider of contact center and real-time analytics market research and consulting services, has today published the 2008 Quality Management/Liability Recording Mid-Year Market Share Report. A comprehensive financial analysis, this report provides insights into the trends that have driven strong and continuous growth in this important contact center segment.
The first half of 2008 returned total revenue in the Quality Management/Liability Recording market of $1,336 million. This figure represents an 18.3 percent increase over the $1,230 million of revenue in the first half of 2007.
The contact center segment of the market exceeded $507 million in the first half of 2008, which was a 13.4 percent increase over the same period in 2007.
While there has been a global slowdown in terms of economics, the contact center industry is not entirely suffering. DMG predicts that the Quality Management/Liability Recording market will continue to grow during the second half of 2008, and will exceed $2.5 billion by the end of the year.
"The strong growth in the first half of 2008 reflects the strength and versatility of the QM/Recording market," said Donna Fluss, president of DMG Consulting, in a Thursday statement.
"While we expect the rate of growth to slow in 2009 and through most of 2010 due to the worldwide economic meltdown, the QM/Recording market is expected to outperform many other contact center technology sectors. These solutions are viewed as mission-critical because of their ability to improve customer retention and the customer experience, and generate incremental revenue."
Innovation is significantly driving market growth and new offerings for the mid-market and increased sales of relatively new WFO applications are also contributing to the increase. Such applications include speech analytics, surveying/feedback, coaching and performance management. There has also been a substantial increase in professional services revenue.
The 2008 Quality Management/Liability Recording Mid-Year Market Share Report delivers a detailed breakdown of revenue and market share for as many as 20 leading vendors. It also features a comprehensive and accurate market share analysis of the Quality Management/Recording technology segment.
As the push for controlled costs within the contact center continues, organizations will be searching for effective ways to drive quality performance using streamlined processes. In this quest for improving operations, Quality Management/Liability Recording solutions prove to be good investments.
Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan's articles, please visit her columnist page.
Edited by Stefania Viscusi